Uranium Stocks Soar After World's Largest Producer Announces Launch Of Physical Uranium Fund
We are referring to the surprise news out of Kazakhstan, where the world's largest producer and seller of natural uranium, Kazatomprom, responsible for providing some 40% of global primary uranium, today announced that it has taken a page out of the Sprott Physical Uranium Trust (which back in September we dubbed "a bitcoin-like opportunity in uranium"), will participate in a physical uranium fund, ANU Energy OEIC Ltd. (“ANU Energy” or “the Fund”), established on the Astana International Financial Centre (AIFC).
According to the press release, the Fund will hold physical uranium as a long-term investment with its initial purchases financed through the founders’ round investment totaling US$50 million, sourced from Kazatomprom at 48.5%, National Investment Corporation of the National Bank of Kazakhstan (NIC) at 48.5%, and Genchi Global Limited (the Fund Manager) at 3%.
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